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§ 46-14-6 NMSA 1978

Powers of trust director

Known as the Uniform Directed Trust Act

The act spans §§ 46-14-1 to 46-14-9 (18 sections).

Laws 2018, ch. 63, § 6.

A. Subject to Section 7 [ 46-14-7 NMSA 1978] of the Uniform Directed Trust Act, the terms of a trust may grant a power of direction to a trust director.

B. Unless the terms of a trust provide otherwise:

(1) a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the director under Subsection A of this section; and

(2) trust directors with joint powers shall act by majority decision.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.